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Rate Increase
August 8, 2022
12:45 pm
Benjames35
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Rate increase effective August 8, 2022

HISA 2.40%
TFSA 2.40%

August 8, 2022
12:51 pm
JohnnyCash
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I had almost given up hope and was thinking of closing my account. Guess I'll hold off for now.

August 8, 2022
1:03 pm
Benjames35
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I did give up hope and just recently moved everything to Motive, for now anyways.

August 8, 2022
1:34 pm
Greedy Guy
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Canadian Tire Bank is reverting to its "want deposits mode". Canadian Tire Bank 4.62% 5 year GIC rate is the highest rate at TD WebBroker today

August 9, 2022
1:38 pm
frencols
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Greedy Guy said
Canadian Tire Bank is reverting to its "want deposits mode". Canadian Tire Bank 4.62% 5 year GIC rate is the highest rate at TD WebBroker today  

Yeah. May be the response to their GICs hasn't been too great. 4.62%, while still high, isn't terribly appealing for a 5-year in current climate, at least to me.

August 9, 2022
4:23 pm
Greedy Guy
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frencols said

Yeah. May be the response to their GICs hasn't been too great. 4.62%, while still high, isn't terribly appealing for a 5-year in current climate, at least to me.  

For someone with a TD brokerage RSP account, a 4.62% 5-year GIC is slightly attractive. An attractive non-sheltered 5-year GIC needs to be at least 5.0%

August 9, 2022
6:28 pm
AllanB
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Greedy Guy said
An attractive non-sheltered 5-year GIC needs to be at least 5.0%  

For the 5yr closer to the rate of inflation at least 7%
There is no telling what they will do next.

August 10, 2022
7:07 pm
KamWest
Toronto
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I won't go into details again but Canadian Tire will never see another penny of my money.

Moving it out was a pain in the ASS

Moving significant funds has significant pitfalls

November 24, 2022
4:35 am
hwyc
GTA
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Effective November 24, 2022, the Annual Interest Rate for Canadian Tire High Interest Savings Accounts & Canadian Tire Tax Free High Interest Savings Accounts has increased to 3.00%

November 24, 2022
7:59 am
Bill
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Thanks, hwyc, not a bad rate for a HISA. Good illustration of why to keep empty accounts open, you never know what comes along.
https://www.ctfs.com/content/ctfs/en/retailbanking/rates.html#:~:text=Great%20News%3A%20Effective%20November%2024,Accounts%20has%20increased%20to%203.00%25.

November 24, 2022
2:46 pm
rpotter28
Kingston, ON
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hwyc said
Effective November 24, 2022, the Annual Interest Rate for Canadian Tire High Interest Savings Accounts & Canadian Tire Tax Free High Interest Savings Accounts has increased to 3.00%  

Based on economic forecasts lately, I am thinking they will need more funds as Credit Card balance payments might lag for a while. So I predict their rate will go up from here.

November 25, 2022
8:42 am
dougjp
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rpotter28 said

Based on economic forecasts lately, I am thinking they will need more funds as Credit Card balance payments might lag for a while. So I predict their rate will go up from here.  

Interesting, could be a factor I guess. Also 9 other banks already pay 3% or more, with Motive having been there for over four months. So it's questionable how much new money they will get, without raising to be closer to 'class leading'.

It's not so bad being senile; you get to meet many more people.

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